Can I retire at age 64 with 893,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $893,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$73,743$73,086$72,445$71,820$71,209$70,174
2 years$36,506$35,827$35,168$34,529$33,909$32,868
3 years$24,096$23,413$22,756$22,123$21,513$20,499
4 years$17,892$17,211$16,560$15,938$15,343$14,364
5 years$14,170$13,494$12,852$12,242$11,664$10,722
6 years$11,690$11,019$10,386$9,790$9,229$8,326
7 years$9,919$9,253$8,631$8,049$7,506$6,641
8 years$8,592$7,932$7,320$6,752$6,227$5,401
9 years$7,560$6,906$6,304$5,751$5,244$4,456
10 years$6,735$6,087$5,496$4,958$4,468$3,718
11 years$6,060$5,419$4,839$4,315$3,843$3,130
12 years$5,498$4,864$4,294$3,785$3,330$2,653
13 years$5,023$4,396$3,837$3,341$2,904$2,262
14 years$4,616$3,996$3,447$2,966$2,545$1,938
15 years$4,264$3,650$3,112$2,645$2,241$1,667
16 years$3,956$3,349$2,822$2,368$1,981$1,439
17 years$3,685$3,084$2,568$2,128$1,756$1,245
18 years$3,444$2,850$2,344$1,918$1,562$1,080
19 years$3,229$2,641$2,146$1,733$1,392$939
20 years$3,035$2,454$1,969$1,569$1,243$818
21 years$2,860$2,286$1,811$1,424$1,113$713
22 years$2,701$2,134$1,670$1,295$997$623
23 years$2,557$1,996$1,542$1,179$895$544
24 years$2,424$1,870$1,426$1,076$805$476
25 years$2,302$1,755$1,320$982$724$417
26 years$2,190$1,649$1,225$898$652$366
27 years$2,086$1,552$1,137$822$588$321
28 years$1,990$1,463$1,057$753$531$281
29 years$1,901$1,380$984$691$479$247
30 years$1,818$1,303$916$634$433$217
31 years$1,740$1,232$854$582$391$191
32 years$1,667$1,166$797$535$354$168
33 years$1,599$1,104$744$492$320$147
34 years$1,535$1,046$695$453$290$130
35 years$1,475$992$650$417$263$114
36 years$1,418$942$608$384$238$100
37 years$1,365$895$569$354$216$88
38 years$1,314$850$533$326$196$78
39 years$1,266$808$499$301$177$68
40 years$1,221$769$468$277$161$60
41 years$1,178$732$439$256$146$53
42 years$1,137$697$412$236$132$47
43 years$1,098$664$386$218$120$41
44 years$1,061$633$363$201$109$36
45 years$1,026$604$341$186$99$32
46 years$992$576$320$172$90$28
47 years$960$550$300$159$82$25
48 years$929$525$282$147$74$22
49 years$900$501$265$135$67$19
50 years$872$479$250$125$61$17

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $893,000, adding $2,861 every year, while hoping to spend $53,246 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 47/39/14 Blend
63$893,000$893,000$893,000$893,000
64$987,037$939,708$925,867$1,029,422
65$1,031,062$929,100$900,230$1,048,451
66$1,077,792$916,189$871,950$1,063,408
67$1,127,448$900,803$840,881$1,078,469
68$1,180,270$882,765$806,873$1,093,664
69$1,236,522$861,884$769,767$1,109,028
70$1,296,491$837,960$729,398$1,124,605
71$1,360,492$810,780$685,593$1,140,446
72$1,428,873$780,118$638,170$1,156,611
73$1,502,011$745,737$586,942$1,173,173
74$1,580,321$707,384$531,710$1,190,216
75$1,664,261$664,792$472,269$1,207,835
76$1,754,328$617,680$408,403$1,226,145
77$1,851,073$565,749$339,888$1,245,274
78$1,955,096$508,685$266,488$1,265,371
79$2,067,059$446,153$187,958$1,286,608
80$2,187,687$377,803$104,043$1,309,179
81$2,317,777$303,262$14,474$1,333,307
82$2,458,206$222,137$0$1,359,244
83$2,609,935$134,013$0$1,399,393
84$2,774,021$38,453$0$1,445,058
85$2,951,627$0$0$1,494,486
86$3,144,030$0$0$1,576,037
87$3,352,636$0$0$1,682,433
88$3,578,989$0$0$1,797,968
89$3,824,788$0$0$1,923,521
90$4,091,902$0$0$2,060,059
91$4,382,387$0$0$2,208,645
92$4,698,504$0$0$2,370,448
93$5,042,742$0$0$2,546,755
94$5,417,839$0$0$2,738,983
95$5,826,810$0$0$2,948,690
96$6,272,970$0$0$3,177,594
97$6,759,972$0$0$3,427,581
98$7,291,833$0$0$3,700,733
99$7,872,978$0$0$3,999,337
100$8,508,277$0$0$4,325,914